Progressive Arranges Sales of Two Retail Parcels at University Town Center in California

The two transactions include a single-tenant building leased to Jiffy Lube (pictured), and a three-tenant building leased to Subway, Little Caesar’s and Liquid Tea Bar. The two transactions include a single-tenant building leased to Jiffy Lube (pictured), and a three-tenant building leased to Subway, Little Caesar’s and Liquid Tea Bar.

San Bernardino, Calif. — Progressive Real Estate Partners has arranged the sales of two retail parcels at University Town Center, a 107,000-square-foot shopping center in San Bernardino.

The parcels included in the transactions were a 2,173-square-foot, single-tenant building leased to Jiffy Lube, and a three-tenant building leased to Subway, Little Caesars and Liquid Tea Bar. The properties sold for $1.8 million and $2 million, respectively. Mike Lin and Maggie Gonzalez of Progressive arranged the transactions on behalf of the seller, a private investor based in Norwalk. A private investor based in Temecula acquired the Jiffy Lube-leased building, and a Walnut-based investor acquired the three-tenant property. Ralphs and LA Fitness anchor University Town Center.

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